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Securitas, whose core offer is manned guarding, is betting on
high-tech surveillance - such as "smart cameras" which discover
threats - for future growth, but said in February it would not
reach a target to increase its share of technology-based
contracts to 18 percent of group sales by year-end.
Handelsbanken analyst Staffan Aberg said the company's share of
technology-based contracts in the U.S. would be boosted to 13
percent with the Diebold deal, from a previous share of 2-3
percent.
Security solutions become more profitable when technology is
included and would improve Securitas' market position as smaller
players would be less able to rival their offering, he added.
Securitas, whose biggest rival is British G4S <GFS.L>, said the
purchase price of $350 million was 11 times estimated EBITDA for
2015, adding the deal would boost group profit from 2016.
The acquired operations, the third largest commercial electronic
security provider in North America, reached sales of 2.8 billion
Swedish crowns ($325.5 million) in the July 2014-June 2015
period and has around 1,100 employees.
Securitas said it would take one-off costs for separating the
e-security business from Diebold Incorporated and transaction
costs of around 60 million crowns.
Securitas, which is present in more than 50 countries across the
globe with the bulk of its business in Europe, said the
acquisition was subject to regulatory approval, with closing
expected during first quarter of 2016.
Last year, Securitas bought Belgian security and critical
communications systems integrator SAIT, and 24 percent of the
shares in the U.S. remote video services company Iverify.
(Reporting by Helena Soderpalm and Olof Swahnberg; editing by
Niklas Pollard)
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